Colgate-Palmolive (NYSE:CL) Price Target Increased to $110.00 by Analysts at Bank of America

Colgate-Palmolive (NYSE:CLFree Report) had its price objective upped by Bank of America from $100.00 to $110.00 in a research note published on Wednesday morning, Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other research analysts have also commented on the stock. Barclays raised their price objective on shares of Colgate-Palmolive from $84.00 to $85.00 and gave the company an equal weight rating in a research note on Tuesday, April 30th. BNP Paribas started coverage on shares of Colgate-Palmolive in a report on Monday, June 24th. They set an outperform rating and a $109.00 target price for the company. Morgan Stanley raised their target price on shares of Colgate-Palmolive from $101.00 to $103.00 and gave the stock an overweight rating in a report on Tuesday, May 28th. Wells Fargo & Company raised their target price on shares of Colgate-Palmolive from $92.00 to $97.00 and gave the stock an equal weight rating in a report on Wednesday. Finally, Royal Bank of Canada raised their target price on shares of Colgate-Palmolive from $88.00 to $95.00 and gave the stock a sector perform rating in a report on Monday, April 29th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $94.67.

View Our Latest Research Report on Colgate-Palmolive

Colgate-Palmolive Price Performance

NYSE CL opened at $97.39 on Wednesday. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $99.08. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.06 and a quick ratio of 0.70. The firm has a market capitalization of $79.90 billion, a PE ratio of 30.82, a P/E/G ratio of 3.59 and a beta of 0.39. The company’s 50 day simple moving average is $94.92 and its 200 day simple moving average is $88.62.

Colgate-Palmolive (NYSE:CLGet Free Report) last posted its quarterly earnings data on Friday, April 26th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same quarter last year, the business earned $0.73 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities research analysts forecast that Colgate-Palmolive will post 3.53 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be given a $0.50 dividend. The ex-dividend date is Friday, July 19th. This represents a $2.00 dividend on an annualized basis and a yield of 2.05%. Colgate-Palmolive’s payout ratio is 63.29%.

Insiders Place Their Bets

In other Colgate-Palmolive news, insider Sally Massey sold 12,226 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total value of $1,149,977.56. Following the completion of the sale, the insider now owns 13,924 shares in the company, valued at approximately $1,309,691.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider John W. Kooyman sold 3,497 shares of Colgate-Palmolive stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the completion of the sale, the insider now owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sally Massey sold 12,226 shares of Colgate-Palmolive stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the completion of the sale, the insider now directly owns 13,924 shares of the company’s stock, valued at approximately $1,309,691.44. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Colgate-Palmolive

Several institutional investors and hedge funds have recently modified their holdings of the business. Csenge Advisory Group lifted its stake in shares of Colgate-Palmolive by 8.7% in the 2nd quarter. Csenge Advisory Group now owns 3,734 shares of the company’s stock valued at $362,000 after purchasing an additional 300 shares during the last quarter. Simplicity Wealth LLC lifted its position in Colgate-Palmolive by 3.7% during the 2nd quarter. Simplicity Wealth LLC now owns 39,095 shares of the company’s stock worth $3,794,000 after acquiring an additional 1,404 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in Colgate-Palmolive by 2.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 11,793 shares of the company’s stock worth $1,144,000 after acquiring an additional 241 shares during the last quarter. Aprio Wealth Management LLC acquired a new position in Colgate-Palmolive during the 2nd quarter worth $248,000. Finally, Gulf International Bank UK Ltd lifted its position in Colgate-Palmolive by 0.4% during the 2nd quarter. Gulf International Bank UK Ltd now owns 87,365 shares of the company’s stock worth $8,477,000 after acquiring an additional 357 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Company Profile

(Get Free Report)

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.

Further Reading

Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

Receive News & Ratings for Colgate-Palmolive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive and related companies with MarketBeat.com's FREE daily email newsletter.